Chief Justice Syed Mahmud Hossain has said Bangladesh would concentrate on tackling challenges of commercial laws, trade arbitration and agreement.
He also suggested that judges and lawyers should have good idea about country’s commercial laws and latest development.
The chief justice came up with the statement while addressing a seminar titled “Commercial Legal Practices and Recent Developments in Bangladesh” at the Supreme Court on Saturday.
“Business is the main part of a democratic society but commercial transaction does not get much encouragement in our country. Judges and lawyers should have good idea about country’s commercial laws and latest development. It is now necessary to introduce one-stop service immediately to develop business environment,” he said.
“It was always on demand to modernize or update laws on arbitration to resolve commercial disputes quickly, considering the growing international trade activities. Bangladesh has formulated new arbitration law by revoking the old one,” he added.
Presided over by Supreme Court Special Committee for Judicial Reforms chairman Justice Muhammad Imman Ali, the seminar was also addressed by UNDP Bangladesh Resident Representative Sudipto Mukerjee, among others.
Justice Muhammad Imman Ali in his speech said changing the legal infrastructure of arbitration process is possible, adding, “It is also possible to resolve disputes without going to court and it is applicable for both local and international cases.”
